Because the CitiBank line-of-credit load was reported by Cruz to the Senate without identifying the collateral. FEC rules forbid unsecured loans because they can be used to launder contributions in excess of the Federal limits.
As for the Goldman Sacks loan, it is not clear whether or not this was a joint account with his wife, Heidi. If it was a joint account, or worse, if it was her account, then Heidi violated the FEC limits on contributions.
So all in all, this is a big deal.
A Goldman-Sachs banker and the smartest lawyer there is can't get away with saying they didn't know the rules.
CRUZ LOANED HIMSELF THE MONEY .. FROM HIS OWN ACCOUNTS.
There is nothing irregular about it.
If the loan was for the wife— wouldn’t it become marital property and thus would enable Cruz to use it?
Sachs was a margin loan on their joint account, as I understand it. With a margin loan there is no timeline in repayment.